The Board of Director in their meeting held on May 29, 2025 interalia consider and approve the following amongst others: 1. Financial Results for the Quarter and year ended March 31, 2025 ....
Awaiting price reaction for this filing.
The Board approved the audited standalone financial results for Q4 and FY ended March 31, 2025, along with an unmodified (clean) audit opinion from statutory auditors S.H. Sane & Co. Revenue from operations for FY25 was a negligible ₹2.5 lakhs (vs nil in FY24), with total income of ₹47.65 lakhs largely driven by other income. The company reported a loss after tax of ₹29.96 lakhs for FY25, narrower than the ₹34.79 lakh loss in FY24, but EPS stayed negative at ₹(1.14). The balance sheet shows severely eroded net worth of ₹(404.03) lakhs (other equity of ₹(665.68) lakhs) against total borrowings of about ₹388 lakhs, and cash flow from operations was negative at ₹(56.12) lakhs. The Board also re-appointed M/s. Vaishnavi Badwe & Associates as Internal Auditor for FY25-26 and disclosed pending customer/vendor lawsuits against the company.
The results flag a serious going concern situation for shareholders — revenue is almost zero, accumulated losses have wiped out equity, debt exceeds equity, and operations are burning cash. Stock price sentiment is likely negative, and further capital infusion or restructuring may be needed; BSE had previously revoked trading suspension on the scrip, so liquidity remains fragile.